In the latest example of strong financial growth, Avecto has been named second in the Deloitte list of the 50 fastest growing technology companies in the UK.
The UK Fast 50, which ranks the UK's emerging tech companies based on revenue growth over the last five years, covers technology companies across the UK in a range of sectors, from Biotechnology and Electronics to Software and Telecommunications.
All of the companies who featured in this year's list demonstrated phenomenal progress, with Avecto's growth of 4,721% over the last five years making it the highest ranked software company on the list, as well as the first Northern firm to finish in the top five since 2007, leading Avecto to be crowned both North regional and Software sector winner.
As reported by The Business Desk, the only other North West company to feature in the Deloitte UK Fast 50 came in 25th place, with the list largely dominated by companies based in London and the South East.
"Avecto has shown entrepreneurial drive and strategic thinking to grow both quickly and sustainably. It's one of the leading lights in the North West technology sector and this ranking clearly shows it can compete with the best, both nationally and internationally." Said Jodi Birkett, technology, media and telecoms partner at Deloitte in the North West. "Avecto is the perfect example of a North West tech firm making its mark through clever ideas and effective execution."
In their featured Case Study, Deloitte discuss how Avecto founders Mark Austin, CEO, and Paul Kenyon, EVP Global Sales, spotted a gap in the market nearly six years ago.
"When users log on to their desktop or laptop, they require privileges to access certain applications, and in many cases can't fulfil their roles without those privileges" said Austin. "The big problem for organizations is that to improve security they must remove privileged accounts, which leads to a poor user experience, reducing their productivity and increase help desk calls. So we thought: can we develop a solution that better balances the need for secure desktops and user freedom?"
The idea prompted the development of Avecto's award-winning Privilege Guard Technology, providing organizations with the ability to balance security with user experience.
"There wasn't a solution on the market that provided such granular control over application privileges" said Kenyon, "It was an area growing rapidly, even then, so Mark developed the first version and solved all the deeply technical problems himself. We've been innovating ever since."